The lacklustre initial public offering (IPO) of mattress
company Casper is indicative of a wider trend in the US
equities market that has spawned from the excessive valuation
of shared working space company WeWork.
Casper, who took fame after offering a delivery service
boxed mattress with a 100-day return policy, eventually listed
this month at a significantly lower value than it had once
commanded. In a pre-IPO regulatory filing the company announced
it had cut its target share price to between $12 and $13 from
$17 to $19, valuing itself at around $500 million. That's
around $200 million less than just a week before.
In May 2019 following a funding round, Casper was valued at
more than $1 billion.
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Casper's IPO is indicative of a wider trend in the
US equities market that has spawned from the